Beacon Roofing Supply (NASDAQ:BECN) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Beacon Roofing Supply (NASDAQ:BECN) had its target price raised by Royal Bank of Canada from $113.00 to $114.00 in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. Benchmark reissued a “buy” rating and issued a $140.00 price objective on shares of Beacon Roofing Supply in a research note on Friday. Robert W. Baird increased their price objective on shares of Beacon Roofing Supply from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Stephens decreased their price objective on Beacon Roofing Supply from $107.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.00.

Beacon Roofing Supply Stock Performance

NASDAQ:BECN opened at $93.46 on Friday. The stock has a market capitalization of $5.78 billion, a P/E ratio of 15.98 and a beta of 1.54. The company has a current ratio of 1.90, a quick ratio of 1.09 and a debt-to-equity ratio of 1.75. Beacon Roofing Supply has a 1 year low of $72.09 and a 1 year high of $105.42. The firm has a 50 day moving average of $89.02 and a 200-day moving average of $92.18.

Insider Buying and Selling

In other Beacon Roofing Supply news, insider Jason L. Taylor sold 2,600 shares of Beacon Roofing Supply stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $90.00, for a total value of $234,000.00. Following the transaction, the insider now owns 9,131 shares of the company’s stock, valued at approximately $821,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jason L. Taylor sold 2,600 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $90.00, for a total value of $234,000.00. Following the sale, the insider now directly owns 9,131 shares in the company, valued at $821,790. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Prithvi Gandhi acquired 5,000 shares of Beacon Roofing Supply stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average cost of $82.29 per share, with a total value of $411,450.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $411,450. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.

Institutional Trading of Beacon Roofing Supply

A number of institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC acquired a new stake in Beacon Roofing Supply in the 1st quarter valued at $26,000. Blue Trust Inc. grew its holdings in shares of Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Beacon Roofing Supply by 145.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 343 shares of the company’s stock valued at $30,000 after acquiring an additional 203 shares during the last quarter. GAMMA Investing LLC raised its holdings in Beacon Roofing Supply by 154.0% during the third quarter. GAMMA Investing LLC now owns 734 shares of the company’s stock worth $63,000 after acquiring an additional 445 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its position in Beacon Roofing Supply by 66.7% during the third quarter. Central Pacific Bank Trust Division now owns 1,250 shares of the company’s stock valued at $108,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.